The case pertains to proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) commenced on April 26, 2022. The Committee of Creditors (CoC) convened a meeting on February 20, 2023, to discuss the resolution plan and the possibility of liquidation. The CoC initially rejected the resolution plan with a 100% vote in disfavour. Subsequently, the CoC approved the sale of the corporate debtor as a going concern and approved the liquidation cost with a 100% vote in favour.
The Corporate Insolvency Resolution Process (CIRP) for Pearl Impex commenced on April 26, 2022. A meeting of the Committee of Creditors (CoC) was held on February 20, 2023, where the CoC members considered a resolution plan. The CoC initially rejected the resolution plan with a 100% vote. Subsequently, the CoC approved the sale of the corporate debtor as a going concern with a 100% vote. The CoC also approved the liquidation cost. The Resolution Professional then moved an application for the liquidation of the corporate debtor. The Adjudicating Authority ordered the liquidation of the corporate debtor and appointed Mr. Vinod Tarachand Agrawal as the Liquidator. The order specifies the duties and responsibilities of the Liquidator, including making public announcements,
…Sign in to view the parties.
The Corporate…
The Committee of Creditors (CoC) held a…
The case pertains to proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) commenced on April 26, 2022. The Committee of Creditors (CoC) convened a meeting on February 20, 2023, to discuss the resolution plan and the possibility of liquidation. The CoC initially rejected the resolution plan with a 100% vote in disfavour. Subsequently, the CoC approved the sale of the corporate debtor as a going concern and approved the liquidation cost with a 100% vote in favour.
The Corporate Insolvency Resolution Process (CIRP) for Pearl Impex commenced on April 26, 2022. A meeting of the Committee of Creditors (CoC) was held on February 20, 2023, where the CoC members considered a resolution plan. The CoC initially rejected the resolution plan with a 100% vote. Subsequently, the CoC approved the sale of the corporate debtor as a going concern with a 100% vote. The CoC also approved the liquidation cost. The Resolution Professional then moved an application for the liquidation of the corporate debtor. The Adjudicating Authority ordered the liquidation of the corporate debtor and appointed Mr. Vinod Tarachand Agrawal as the Liquidator. The order specifies the duties and responsibilities of the Liquidator, including making public announcements,
…The Corporate…
The Committee of Creditors (CoC) held a…